Tech

Logistics and supply chain startup Delhivery raises $ 277 million prior to IPO

2021 is already a golden year for India’s startup ecosystem, with nearly 14 companies joining the coveted unicorn family earlier this year.As a market leader, I promise to be equally interesting in the second half Zomato, Flip cart, And Paytm Will be released.

Prior to its IPO, regulator filings show that Delhivery, India’s largest e-commerce logistics and supply chain starter, has 200 million in its latest funding round led by US-based investment firm Fidelity. We raised $ 77 million and raised its valuation to $ 3 billion. The round was also attended by Singapore’s government investment fund GIC, Abu Dhabi’s Chimera and Baillie Gifford of the United Kingdom. Gifford and Chimera will be Delhivery’s new investors.

Fidelity invested about $ 125 million in Gurgaon-based Deliberry, while GIC invested about $ 75 million. The 10-year-old Gurgaon-based startup has raised approximately $ 1.23 billion to date, including SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group, and Steadview Capital. Delhivery raised $ 415 million in a SoftBank-led Series F funding round. SoftBank valued a new era of logistics companies at $ 1.5 billion in 2019.

Delhivery announced in its regulatory filing that it would use the new capital to expand its business. It has evolved beyond food delivery companies and is functioning in areas such as consumer electronics, fashion, FMCG, and certain industrial sectors such as automobiles. It currently exists in more than 2,300 cities and more than 17,500 zip codes in the country and has processed more than 1 billion orders to date. It has 21 automated sorting centers, more than 85 fulfillment centers, more than 3000 direct distribution centers, approximately 15,000 vehicles and a team of more than 40,000 employees. We will do our best to connect truck drivers, agents and shippers, reduce the role of brokers and digitize the supply and demand system of the $ 200 billion rich logistics market.

Delhivery, Fidelity and GIC declined to comment on this matter.

Delihivery plans to raise approximately $ 650 million to $ 800 million at the time of listing (it is expected to be worth approximately $ 4 billion at that time). It expects to generate revenues of Rs 370-400 billion in 2009, ahead of competitors FedEx, Gati and market leader Blue Dart.

Logistics and supply chain startup Delhivery raises $ 277 million prior to IPO

Source link Logistics and supply chain startup Delhivery raises $ 277 million prior to IPO

Back to top button